In our previous blog post and video, I discussed referrals from your sphere of influence as one way to get listings. In this blog, I’ll tell you about five more ways to get listings from competitive sources.
It’s fairly obvious that For Sale By Owners are good lead sources. In a hot market, there might be a lot more FSBOs than there are expired listings. A lot of them don't even make it to sites like Zillow.
For example, a FSBO popped up across from our office recently. I saw tons of people driving by looking at the sign. However, the home wasn’t on Zillow, and I didn't see it on any other websites at that time either.
So don’t be afraid to drive through the neighborhood looking for FSBOs that might not be online. When you drive home from work, take a different route every single day, if possible — depending on how far away your office is from your home — and look for new FSBO signs. If you see somebody out in the yard or just getting home, stop in and offer to help or drop off a resource. If you have a business card or a brochure — or if you're using a book like one of our Authorify customers — drop it off. That's a really good way to get in front of them and offer them value.
In a survey asking FSBO sellers to list the "Most Important Reason for Selling FSBO," 48% replied that they “Did not want to pay an agent's commission or fee."
The median age of FSBO owner is 56. Simply put, these owners have lived a little. They are not stupid. They just need your help. Take time to share stories and stats. Educate them on the benefits of listing with an agent.
If you think their property is underpriced, use this to your advantage to validate your commission.
The most important thing is to approach them in a hands-off, helpful way. We recommend offering to take listing photos for them just so they can get a taste of the quality service you offer.
While you’re there taking pictures, tell them about some of the other top-notch marketing techniques you can provide that they wouldn’t be able to do on their own.
Old FSBOs are another lead category I think lots of people forget about. Old FSBOs are homes that didn't sell and also didn't end up listing.
As an example, when my wife and I were looking for a home, we ended up driving through all sorts of neighborhoods. There wasn't much inventory in our price range in the area, so we were driving all over the place. We were stopping at people's houses and asking if they or their neighbors wanted to sell.
We didn’t have any luck with this method, but a person who lived in the same condominium complex as us ended up buying one of the homes we were going to check out. It turns out, the home had been up for sale on Zillow as a FSBO two years earlier.
So this person knocked on the homeowner’s door and said, "Hey, we noticed you tried to sell your home a while ago. Would you still be interested in selling it?" The homeowners said yes, and they sold it just like that, at what I believe was the price from two years earlier. They simply had no luck selling it, but they were ready to sell the moment this person knocked on their door. That's a great reason to go after old FSBOs.
To land leads in the two aforementioned niches, consider using one of our FSBO books, which show FSBOs how much work goes into selling on their own and shows them the benefits of working with a licensed real estate agent. Visit authorify.com to learn more.
Another obvious lead generator is expired listings. If you're not going after expired listings, you definitely should be — they are some of the best leads out there. Call them up or mail them your promotional packet. I like mailing a book because it makes me stand out from all the other agents who are calling them. Afterward, I follow up with them and try to offer valuable resources and just be there to help in general.
You’ll likely find that expired owners are sick and tired of answering phone calls from eager agents. You’ll also quickly realize they have been hearing the same thing over, and over, and over again — oftentimes about how their listing was overpriced.
The good news is that with so many agents going after expireds in the same way, it’s easy to stand out from the crowd!
The first step is to find a way to be different from everyone else. How can you do that?
In real estate, you don’t have a consumable product to offer. What you do have is yourself. Nobody else is you, or ever can be.
You’ve just got to take time to find out what you do better or differently than others, and bring it to light.
Keeping your ideal lead in mind, remember this question: “What’s in it for me?”
Answer that question in a unique way. Put a twist on your point of difference that can benefit the seller.
For instance, if you have a large team, just pointing out that fact doesn’t provide any value to the seller. Instead, focus on the availability and access a large team can provide: Calls and questions will be answered quickly, a whole team of people will work to make the transaction a success, etc.
See how you make it about them?
For even more about expired listings, here's a blog we've previously published on the topic.
Old expireds are similar to old FSBOs in that they didn’t sell, but old expireds actually previously listed with an agent. These are a really good source of new business. They're older, but chances are good that they're just waiting to relist down the road.
Maybe they were unrealistic about the price originally, or maybe the market improved and they’re now ready to sell. A lot of the time, the agent who listed their home didn't stay in touch after the listing expired. Maybe they had other issues with their previous agent. Who knows? But you can contact those type of leads and perhaps do what other agents couldn’t do.
The best part about old expired leads is that no one else is likely going after them. You can approach them casually, offer to evaluate their homes, and suggest any improvements that may help them sell in the future.
Again, show them what you can offer that’s different from every other agent on the block. But be cautious not to badmouth their previous agent, even if they seem eager to do so themselves. Keep the conversation focused on what you can offer rather than what their previous agent couldn’t.
To land leads in the two aforementioned niches, consider using one of our expired books, which offer helpful advice to homeowners whose homes previously didn’t sell. Visit authorify.com to learn more.
Another great source for leads are Make Me Move listings on Zillow. This feature allows homeowners to say they’ll move if they can get the right price for their home. Inherently, someone who creates a Make Me Move listing is thinking of selling in the near future, but something is preventing them. Maybe something's going on in their personal life, or there are some health problems holding them back.
Maybe they are simply waiting for the right kind of market to list. In the meantime, they'll throw it up there, thinking to themselves, “Hey, if I get lucky and someone makes a great offer, I'll sell.” I've seen so many of those homes sell, so they're a really good source for listings.
Most agents aren’t chasing Make Me Move listers because they think of them as dream sellers who won’t budge on their unrealistic prices. However, they're likely going to eventually list when the time is right, and you could be their agent if you make the right connection at the right time.